Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
Income Tax : Section 194N requires banks, co-operative banks and post offices to deduct TDS on cash withdrawals above prescribed limits, with h...
Income Tax : Resident individuals, eligible non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form ...
Income Tax : The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buy...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : Income Tax India, through its X account post dated 30.03.2026, has clarified the applicability of tax deduction at source (TDS) on...
Income Tax : Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transaction...
Income Tax : Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificate...
Income Tax : ITAT Kolkata held that TDS under Section 194C was not required on materials purchased for installation work. The disallowance unde...
Corporate Law : The Court held that TDS certificates and income tax filings established a prima facie jural relationship between the parties. It g...
Income Tax : he Tribunal held that accepted on-money receipts from earlier years could partly explain cash deposits made during the demonetisat...
Income Tax : The Court held that compensation paid to workmen under a Government-approved closure package was exempt under the second proviso t...
Income Tax : The ITAT Bangalore held that disallowance under Section 40(a)(i) could not survive once the recipient of the income settled the ta...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : The issue involved delay in issuing TDS certificates due to technical issues. The Board extended the deadline to provide relief. T...
Goods and Services Tax : The advisory explains that registrations will be automatically suspended if bank account details are not furnished within 30 days....
The issue involved delay in issuing TDS certificates due to technical issues. The Board extended the deadline to provide relief. The takeaway is that system glitches can justify compliance extensions.
The issue was whether repayment of loans through banking channels proves genuineness under Section 68. ITAT Delhi held it does not, ruling that bogus loans remain unexplained even if repaid.
Delay in TDS/TCS deposit was arguably not punishable under the 1961 Act on strict interpretation, but from FY 2026-27, new law clearly penalizes delays beyond return filing deadlines.
Covers complete TDS and TCS compliance under GST including new metal scrap rules. Provides step-by-step guidance for businesses and professionals.
The new Act retains existing TDS rates and thresholds while reorganising provisions. It prioritises simplification and clarity without altering tax liability. This ensures continuity in tax treatment despite legislative reform.
The new Act continues the existing tax payment framework without altering compliance obligations. It simplifies presentation while preserving the structure of TDS, advance tax, and self-assessment tax.
The concept of a Lower Deduction Certificate (LDC) continues under the Income-tax Act, 2025 with no major policy change from the Income-tax Act, 1961. Under Section 395 of the new Act (corresponding to Section 197 of the old Act), a taxpayer can apply to the Assessing Officer for deduction of tax at a lower rate […]
The new Act consolidates TDS provisions into a single section for clarity. Despite structural changes, rates and thresholds remain largely unchanged.
A detailed comparison highlights how old sections are renumbered and reorganized under the new law. It shows that structure changes, but core tax principles remain largely unchanged.
The framework clarifies that relief from higher TDS/TCS applies only within specific timelines under CBDT circulars. PAN activation alone does not remove past demands automatically.
